Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1887-11-11
Col. Jesse Harper.

last Friday, from the Union Labor
standpoint. He made 3 number of
statements which should be carefully
considered by all good citizens regard
| less Of their party affiliations. He be-
gan by saying that this country seemed
to be following in the footsteps of Rome
and ether nations that had gone down,
that property since 1866 had changed
hands. passing from the poor to the
rich with appalling rapidity; that if we
| continued on in the same ratio till 1900
One-sixteenth of the people would own
all the land and fifteen-sixteenths would
be renters In 1866 there were in the
United States, but ten men worth a
million Of dollars. Now there are hf-
teen hundred millionaire. The speaker
showed that while wheat, meat, cloth
ing, and the necessaries Of life went
down, money went mp, and there we're
more naked people and starving people
now than ever before.
Discussing the railroad question Col.
Harper illustrated the ''Jay Gould
methods" Of robbing the people. A
few years ago he purchased the Missouri
Pacific Road, paying Sl5,000,OOO for
the property He then issued 40 million
dollars Of watered stock, and reduced
the wages Of the employees nearly one
half. and put up the freight rates, so
that be made the property earn HIM 8
per cent on a capital Of $50, 100000.
Every one who has looked into this
matter understands that "watered
stock is no part of the capital invested
in the roads but is fctitious-is, proper
ly speaking, clean stealing, IS a counter
felt stock. Creating watered stock may
be illustrated by taking Is gallons Of
pure cider and pouring IN 40 gallons Of
water and then selling the mixture at
the regular price of cider. But two
men now control the railroads in the
United States-Gould and Vanderbilt.
Only one fourth Of one per cent. Of the
people own any interest in Railroads.
Lately Jay Gould, himself, and CLANCY
DePue and Henry Clews, have each
declared that the Government will be
compelled, in self protection, to CAPT
talize the railroads and telegraphs, and
own and operate them. The speaker
SAID it has been clearly shown that the
railroads would make plenty Of money
to carry passengers at one cent a mile
and freights at one fourth of their pres
ent charges.
The Colonel discussed the currency
question at length. taking the position
that the National Banking system is a
very unjust, OppresslYe and dangerous
one. He did not hate the National
Banker, but was violently opposed to a
system which put so much power in the
hands Of a few men to expand or con-
! tract the currency at will. He SAID
there is not now enough money in cir
culation with which to transact the
business of the country. We only
have something like S12 90 per capita,
if we had kept up the ratio that we had
for several years after the war we would
have $3.50 per capita, instead of $1,000.
His theory is to take away the power of
National Banks to emit money. Let
the Government issue the money and
not the banks.
The Colonel quoted Lincoln, Sumner,
Henry Wilson, Thadeus Stephens and
others to prove his position that the
great bulk Of ills that afiict people.
| come from the contraction of the cur
rency. The colossal fortunes that have
been made by the money kings
were made by the manipulations of the
currency by these men. He showed
the wlckedness of the ''refunding
scheme" how instead Of paying off the
bonds as might have been done, they
were refunded, and the time of their
maturity put off thirty years. Before
the bonds can be paid the bond-hOld-
ers will have received in interest S2.75
for every dollar Of principal. These
bOnd-hOlders don't pay a cent Of taxes
for the support of the government
which protects them and their property.
In this connection the Colonel read
from a speech of Republican Senator
Bowen who denounced tn e Resumption
act, the Refunding act, and the demon
etizing Of silver as fagI ant wrongs
wrongs, as in fact gigantic schemes to
make rich men richer and poor men
poorer. The speech was listened to at
entively and will doubtless set many
persons to thinking on these and other
evils mentioned.
The HERALD does not agree with all
of Col. Harper's conclusions, but frank
ly admits that we see and have for some
time seen many of the dangers he has
pointed out, and as a lover of our coun-
try and our kind, we have been, il a
feeble way, doing what we could to di-
rect the attention of all honest thinking
men to these questions, for we believe
when the people fully comprehend the
evils that afIiict the country they will
proceed to abolish them.
Big Greek Items.